U.S. Debit Card Program and Cash and Investments Held Outside of Treasury (CIHO) Accounting Concerns

AGENDA ITEMS:

Karl Foltz (FMS) discussed the creation of a new attribute titled, "Program Indicator." By appending this attribute to a USSGL account, amounts can crosswalk to multiple report lines without using additional footnote information. Specifically, this attribute will replace the Statement of Net Cost Crosswalk, footnotes 4 and 5, which indicate whether or not costs/revenues are assigned to a program. The proper domain values will be annotated on the crosswalk (by account) as follows:

Sherry said that the deficiency flag attribute could be deleted from the USSGL crosswalk since it is not presently used to support existing OMB Circular No. A-11 requirements. However, agencies that currently have the deficiency flag are advised not to remove it from their accounting system since OMB anticipates creating new requirements that will require the attribute.

Changes to the SF 133 will not be final until they are incorporated in the amended OMB Circular No. A-11 guidance, due to be released in November 2009 and in an updated USSGL TFM bulletin.

Karen Metler (FMS) discussed the summary of changes to the USSGL Crosswalk - Part 1, Section V, Budget Program and Financing (P&F) Schedule for Fiscal 2009 Reporting. Most of the changes are a result of either revisions needed for a particular agency to properly report, or for the tightening up of accounts on certain lines that are specific to particular fund types. The following line items were affected: 2145, 4045, 4945, 6035, 6045, and 6047.

A few additional changes to these lines were made subsequent to the release of the handout. Therefore, an updated P&F crosswalk and summary of changes handout will be posted to the USSGL Web site following the meeting.

After a review of the P&F crosswalk changes, the IRC discussed the purpose and necessity of shaded cells on the FACTS II crosswalks (SF 133, P&F, and FMS 2108). Agencies were asked if the shading of FACTS II supplied attributes is useful from either a reader or programmer perspective. Agencies responded that shading is not useful or beneficial. The IRC then made a decision to delete all shading on the FACTS II crosswalks effective fiscal 2010. However, the shading on the FACTS II attribute table, proprietary attribute table, and the proprietary crosswalks has not yet been addressed and will remain the same for now.

Edwin Walker (FMS) presented and addressed numerous inquiries submitted by Federal agencies in reference to Accounting for Cash Investments Held Outside of the Treasury (CIHO) and the U.S. Debit Card Program.

Treasury Financial Manual (TFM) Volume 1, Part 2, Chapter 3400, Accounting for and Reporting on Cash and Investments Held Outside of the U.S. Treasury, is the current authoritative guidance for CIHO activity. It defines CIHO as funds under the custodial responsibility of Federal Government agencies that are deposited in Non-Treasury General Accounts (NTGAs).

The agencies that are primarily using the U.S. Debit Card Program are the Department of Agriculture, the Department of Commerce, the Peace Corps, and the Department of Defense (DOD). The Treasury Department's Financial Management Service (FMS), Federal Finance area, manages the program.

Since the inception of the U.S. Debit Card Program, the USSGL Division has received several inquiries, including the following:

Is J.P. Morgan Chase (JPMC) considered a Treasury General Account (TGA)? (FMS legal counsel has determined that JPMC, with respect to the U.S. Debit Card program, is not a TGA but is an NTGA. Per the TFM, NTGA activity equals CIHO.)

What document is needed to move monies from a TGA to an NTGA?

What is the accounting for capturing the U.S. Debit Card Program activity?

When an agency transfers cash outside the Treasury, when is the outlay recognized as an advance or outlay?

The USSGL staff will hold future meetings with DOD, the Department of Homeland Security, and the Department of Justice to produce a U.S. Debit Card Program scenario for future presentation to the IRC.

ROUNDTABLE DISCUSSION:

Brandi Erdtmann (DHS) asked about anticipated refunds on the SF 133 and whether it is necessary to request a new USSGL account specific to anticipated refunds. Teresa Tancre (OMB) responded that based on the OMB Circular No. A-11 guidance, anticipated refunds are no different than other anticipated collections. Therefore, a new USSGL account is not needed.

CLOSING REMARKS:

Kathy thanked everyone for attending and stated that the next IRC meeting is tentatively planned for Thursday, December 3, 2009.